How can the answer be improved. Auditor independence refers to the independence of the external auditor it is characterised by integrity and an objective approach to the audit process the concept requires the auditor to carry out his or her work freely and in an objective manner.
Internal audit independence july 29, 2011 i run into more than a few internal auditors who struggle with independence the people who pay their salaries and keep their team funded and staffed don’t understand what auditors do and therefore set the internal audit shops up for audit failure. The aicpa, dol, and sec all have rules regarding auditor independence the dol rules apply to all employee benefit plan auditors, the aicpa rules also apply to those auditors who are members of the aicpa, and the sec's rules apply to auditors of plans that file on form 11-k with the sec the center.
Auditor independence can be defined as a reference to the independence of internal or external auditors from parties that might have a financial interest in. Dence of the external auditors from the governments they the concept of auditor independence is governed by a number of professional standards setters, including.
It is of utmost importance to the profession that the general public maintain confidence in the independence of independent auditors.
The commission's general standard of auditor independence is that an auditor's independence is impaired if the auditor is not change of independent auditors. Auditor independence issues are complex set out below is an overview of the issues, followed by a list of key documents that consider them in more detail, including links to articles and research documents. Auditor independence is commonly referred to as the cornerstone of the reporting independence protects the auditors’ ability to choose to reveal to the public.
Ethics & independence interim independence standards consist of independence standards described in the aicpa’s code of professional auditors of broker.